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1. Mainstream Cryptocurrency Market (24h)
• Bitcoin (BTC): approximately $66,400–$67,400, -0.85%~-2%, broke below $68,000, briefly dipped below $67,000
• Ethereum (ETH): approximately $2,029, -1.3%~-3.5%, temporarily fell below $2,000
• Major altcoins generally follow the decline, market sentiment weakens
2. Key Events
1. Market-wide Decline
Cryptocurrencies and tech stocks both retreating, dragged down by Nvidia's sharp drop, overall risk assets under pressure
2. Institutional Views
• Bernstein: Currently a confidence crisis, underlying infrastructure (exchanges, custody, ETFs) remains stable

【Regulation and Institutions】Global crypto regulation accelerates implementation, with compliance as the main growth track
The Trump administration has finalized the final version of the Crypto Market Structure Act, clarifying rules for stablecoin issuance and reserves. Meanwhile, the Federal Reserve has launched a 60-day public consultation, proposing to remove the "reputation risk" review clause for banks, clearing policy obstacles for American banks to cooperate with legitimate crypto enterprises.
In the Asian market, Hong Kong's first stablecoin license will officially open in March, with

【Ethereum Major News】The Foundation Officially Announces Staking 70,000 ETH, Significantly Alleviating Long-term Selling Pressure
The Ethereum Foundation has officially announced that all 70,000 ETH (approximately $128 million) in its treasury will be staked. The first batch of 2,016 ETH has been staked, and the remaining will be completed in batches.
The rewards generated from staking will be fully returned to the treasury to support the development of the Ethereum ecosystem, fundamentally changing the previous "selling tokens to support operations" model. This will greatly reduce long-term

BTC, ETH violent rebound, over $320 million in short positions liquidated in a single day
Bitcoin surged over 8% in 24 hours, reaching a high of $69,500, the largest single-day increase since February 6; Ethereum soared over 12% simultaneously, briefly breaking $2100, with mainstream cryptocurrencies rising 7%-15%.
This rebound caused over $320 million in short positions to be liquidated across the network. Meanwhile, after five consecutive weeks of net outflows, the US spot Bitcoin ETF recorded a net inflow of $257 million in a single day, significantly improving market sentiment.
In the

BTC drops below 64k, Fear Index at 8! Do you dare to go all in?
Main text: The whole network is crying, and the dashboard is turning black with red—what are the big players doing right now? Secretly adding positions! Every time there's extreme fear in history, it's been the night before a huge surge. Bottom-fishing enthusiasts, unite! #比特币 #CryptoMarket

Today (February 19, 2026), the crypto market is a bit grim—Bitcoin and Ethereum are both dropping.
Bitcoin is now hovering around $66,000, down about 2.5% in the past 24 hours, sliding straight down from over $68,000 yesterday. The entire week has been fluctuating between 65K and 68K, with support levels teetering.
Ethereum is even worse, dropping to the mid-$1,940s, a decline of over 2.9%, barely holding the $2,000 mark—but it looks like it could break at any moment.
Market reasons? ETF fund outflows exceeding $3.8 billion, macro pressures (US stock volatility, Iran tensions), plus negative f

Yinfa [2026] No. 42 Document
One sentence summary: Fully tighten regulation on virtual currencies, stablecoins, and RWA, and block offshore circumvention of regulatory loopholes.
1. Core Prohibitions
• Virtual Currencies: All domestic transactions, exchanges, wealth management, derivatives, and ICOs are strictly prohibited, along with illegal financial activities.
• Stablecoins: Issuance and use of stablecoins pegged to the RMB are not allowed.
• RWA: Principally prohibited; cannot be conducted without approval.
• Mining: Completely banned, and assisting with overseas mining is also not permit

Deutsche Bank: BTC decline stems from weakening institutional confidence
• Outflow of institutional funds, liquidity contraction, and regulatory stagnation are the main reasons for the recent BTC pullback, not a fundamental collapse

Ethereum Glamsterdam Upgrade in Preparation
• Expected to launch between June and August 2026, maintaining a biannual upgrade schedule, with testnet already launched.

Ethereum BPO2 Mainnet Upgrade Takes Effect
• Blob Storage Optimization: Target Blob count per block increased to 14, with a maximum of 21, reducing Layer 2 fees

U.S. Treasury Secretary: The government will not bail out cryptocurrencies
• U.S. Treasury Secretary Janet Yellen explicitly states: The U.S. government has no authority to purchase or bail out cryptocurrencies like Bitcoin

China's Eight Departments Document No. 42: Complete Ban on Virtual Currencies, RWA Opens the Floodgates
• On February 6, the People's Bank of China and seven other departments issued a document clarifying that domestic trading, mining, and promotion of BTC/ETH/USDT are illegal across the entire chain
• Repealed Document No. 924, officially distinguishing virtual currencies from compliant RWA (asset tokenization)

Nearly 90,000 liquidations in the past 24 hours
• The cryptocurrency market has experienced intense volatility, with approximately 90,000 liquidations across the entire network in the past 24 hours, totaling over hundreds of millions of dollars in funds.

Price rebound: BTC/ETH up over 3% in 24 hours
• Bitcoin (BTC) around $69,580 (+3.2%), Ethereum (ETH) surpassing $2,100 (+3%+)
• Driven by weaker-than-expected US employment data and rising expectations of Federal Reserve rate cuts

Ethereum faces a critical support at $2,690, with weak ETF capital inflows. February forecasts are uncertain, and the short term may continue to decline.